ASEL Financial Results for the quarter ended March 2019

CASH PROFIT of Rs. 198 Crore | grew by 25 % YoY

PAT of Rs. 120 Crore | grew by 36 % YoY

EPS of Rs. 120 per share

Kolkata, West Bengal, May 16, 2019: The board of Directors of Avadh Sugar & Energy Limited (ASEL) (BSE: 540649 / NSE: AVADHSUGAR) at its meeting held on 13thMay, 2019 took on record the audited Financial Results for the quarter ended March 2019.

Commenting on the results, Mr. C.S. Nopany, Co-Chairperson, Avadh Sugar & Energy Ltd said:

“The challenging business environment for the sector continued during Financial Year 2019 on account of glut of sugar in the market, which hampered the performance during the first half of the financial year. The latter half of the year experienced many positive changes in the market dynamics. Increase in MSP to Rs. 31, export quotas, augmented prices of ethanol, Increase in ethanol realizations have all played a crucial role towards improving the operational margins. Timely support by the Central Government and State Governments has helped in stabilizing sugar prices and ensuring faster payment of cane prices to the farmers. We are hopeful that the policy decision of diverting sugar capacity towards ethanol production and encouraging exports of sugar will help to rein-in the huge inventories in the industry today”.

Key Highlights

▪ Announced Bonus at the ratio1:1

▪ Announced Dividend of Rs3/- per share.

▪ Sugar Stock as on 31stMarch was at 44.94 lakh quintals

▪ Average realization in FY19 – Rs.3002 per quintal against Rs. 3551 per quintal in FY18

About Avadh Sugar & Energy Limited

The company deals in sugar, spirits and ethanol, Cogeneration and other byproducts arising out of the manufacturing process of sugar or resultant of any activity related to sugar business. The company is having four sugar mills at Hargaon (District Sitapur, Uttar Pradesh), Seohara (District Bijnor, Uttar Pradesh), New India Sugar Mills, Hata (District Khushinagar, Uttar Pradesh), Rosa Sugar Works at Rosa (District Shahajahanpur, Uttar Pradesh) with a combined crushing capacity of 31,800 TCD. The company is also having two distilleries at Hargaon and at Seohara with a total capacity of 200 KLPD. The Company is also having Cogen facility and can generate 74 MW power.

Comments

0